How National Service Can Help Boost the Economy

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Feb. 28 (Bloomberg) -- Franklin Project Director Jason Mangone discusses the befits of national service on Bloomberg Television's "Bottom Line." (Source: Bloomberg)

Participating in the service?

There are 80,000 people participating.

Only half of those positions are full-time.

You could actually expanded to about one million.

What about the cost echo who pays for?

It's a public-private cooperation.

One million people per year would cost about 23 $23 billion.

It has a return on investment.

What's the reaction when you say people in national service?

Young people are volunteering in record numbers.

You surprised by that?

I'm not.

In a recent study i saw, millennial's say 71% appreciate meaningfulness over anything else in a career.

Actually think that millennials are excited about service opportunities.

What were looking to do is engage the existing enthusiasm of young people.

When we talk about national service.

What are we talking about?

There are 2.3 million nonprofits in the nine states.

We already identified that people are trying to volunteer in record numbers.

What we have now is the technology that allows you to meet and bring together the people who want to serve any organizations that could host them.

We have huge partners step up with cisco who create technology exchanges where young people and organizations can get matched up.

The economic benefits to the nation -- how might this have an impact on high unemployment, particularly among young people?

It is skyhigh.

So much more than the national average.

What this could actually do is make young people more employable.

You get someone who serves come you get a leader.

Someone who understands the context of the world around them.

Look at this graph.

16-19, the unemployment rate at 23%. 20-24, 12.8%. that is staggering.

At least if they are getting involved in the scum are they getting the skills they need to then make the leap into a position with big into the workforce?


This is where the private sector can be a huge boom to the franklin project.

Hoping us to envision a way that we could credential national service.

What would you say to a young person who has tuition loans piling up an essay, i would like to serve what i really need to get the student loan people off my back.

I have to get a job and pay down these loans.

If you do americorps, you are eligible for an educational word.

-- educational award.

They would be stipend at a moderate level.

You would be able to get paid as you're doing your service.

Talk about the tie-in to the server america app that was sponsored by ted kennedy and signed into law back in 2009. there is legislation on the books promising 250,000 americorps positions by 2015. we are not on track to meet that.

What we are looking to do is meet that goal and expand upon it.

Not through government alone but leveraging all of society.

You have high-profile support, including stanley mcchrystal.

What is his role and how is he helping to get the word out?

He is the chairman of our leadership council.

He thinks we allowed citizenship to degrade to a point where serving has become someone else's responsibly.

Our country just is not work if not everyone is invested in it.

If were not invested in it, we don't have confidence in the country or one another.

Where'd you get financial support?

We have a number of corporate individuals and philanthropies.

Cisco has been a huge help working with technology platforms.

The director of the franklin project.

Is their websitere a website echo ?

The week ahead is next.

This text has been automatically generated. It may not be 100% accurate.


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